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Analysis: Bitcoin's Recovery Faces Increased Derivatives Exposure and $643 Million in ETF Outflows
Bitcoin's recovery is facing a demand test ahead of the US jobs data release, according to CryptoSlate analysis. US spot Bitcoin ETFs recorded a net outflow of $643 million on the trading day of October 30, data from Farside Investors shows. Meanwhile, derivatives exposure has increased, with Bitcoin's total open interest reaching $28 billion as of October 31, a 3% increase in 24 hours, according to Coinalyze data.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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